lp, i'm pretty much a newbie much like you, with about a year's experience in this game (actually less than a year because I took a 3 month break when I almost destroyed my account). have you tried reading any books out there? if you haven't, i'd highly recommend "The Way of the Turtle" as well as "The Disciplined Trader" to try to get over psychological barriers when trading. My own capital has fluctuated greatly in my short time trading, but right now I'm just under my 20K break even point, and should (finally) be in the black by the end of this month. even after a year, i'm still tempted to break all my rules after a few bad trades, and thank my lucky stars i haven't gone bust yet. i think the very fear of losing the ability to trade keeps me on the cautious side, and i really do consider myself lucky.
5% - 10% profit per day trading
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ALoha mate and thanks..
I honestly do appreciate it, since you guys in here are almost like my best mates.. :/ lol
But yeah the stress is seriously crushing.
Thats why im always making those post on here at 3am n 4am in the morning, cos i cant sleep properly even cos my mind is constantly thinking about what the market is doing at the moment and where i can enter my next trade to get some money for food next week n stuff... :/
I do honestly apologise to everyone if i do always bring down the mood and atmosphere of this thread though by always taking about how depressed i am with the stresses of having to earn so much... ect
I think i am actually the only person on this entre website who actually doesn't want to be a trader n doesnt even like trading though.. Lol
Since everyone else comes on here with hunger and enthusiasm and dreams & plan of making loads of money and building up to huge capital and trying to become skilled at trading at stuff....,
But then theres me who is forever trying to get out of trades as fast as possible, stay out of making trades for as long as possible until the ultimate final moment,
and just getting-making the cash i need each day-and then get out for the day.
Instead of spending the day enjoying it and trying to make lots of nice trades. :/
I just feel that im sort of lowering the atmosphere.
Aloha mate, you doing relaly really well recently...
Ive seen your trades and you've made lots of very good 1s and held them for longtime too.
The book that i would suggest everyone reading is ''7 Deadly sins of trading''.
If you remember back in early novermeber i had been doing really well raking in 3k+ per month profit, but so then had gotten very impatient and so was making trades too early and dropped from 10k to 4k in 2weeks..,
Well i was really really panicking them and was all over the place and was out of it most te day with alcohol.. :/
But so i bought that book for £17 (from on online charity shop).
And read it about 6x over in 2/3days.
And then went on to turn that 4k into nearly £18,000 over the next 6weeks.
All because of the book's help pyschologically.
so it is worth it, trust me
i was
Your wrong Spanish I hate it also! I use to trade with 70k in my account but like I said yesterday did lots of stupid things in my past. I keep between 10-14k in my account and I consistently make $2000-$2500 a week trading crude and make a withdrawal every Friday. I scalped back $900 of the 2k I lost yesterday and still am up 1800 on the week. We still have tomorrow and this evening. I can tell you I love withdrawing it and not leaving it in my account its a great feeling watching my checking account grow rather than my trading account. I never need more than 10-12k to trade this as this money is just a tool to make money it is for work not investment. The most I plan on leaving in it is 25k tops. I love it when I am done and shut off the computer, the days are gone where Im all excited for the Sunday open or special reports.
Aloha mate..
Atleast now ive found a fellow trade-hater...
Your doing really well recently though mate, ive seen your trades and theres been some very decent 1s.
Do you trade other markets apart from oil often too though??
Btw thanks for the tip about x-trader, im gna compare the bid/offer thing to the chart now
yrutman, that's the exact thing i thought up a few days ago as my account was approaching profitability again. i know if i leave money in the account, all of it is at risk at any one time from stupidity. so i decided i'd keep atleast half in my checking account, where it's safe from my stupidity. that's the plan, anyways.
span, i borrowed that book from the library. i skimmed each of the 7 sins and virtues, basically just getting an idea of the concepts.
span, i borrowed that book from the library. i skimmed each of the 7 sins and virtues, basically just getting an idea of the concepts.
No i trade CL crude only I shut off the dow, nasdaq, forex etc. I do not like to even look at other markets. Done for today will wait for the closing price and then will trade the next session. I just use X trader and a 5, 60, and daily chart with no technical indicators ad they are all bullshit anyhow.
CNBC reports that this Nat. Gas build up is one factor keeping oil price low
3/20 week Nat Gas storage EIA report
------------------------------------------------------
Nat Gas Plunges After 3 Bcf Build
[Dow Jones] Natural gas futures plunge Thursday after the EIA reported that natural gas storage grew by 3 Bcf for the week ended March 20. "There is still tons of gas out there and last week's draw was a fluke," says Kent Bayazitoglu, director of analytics for Houston-based Gelber & Associates. Nymex April gas futures trade 34.3 cents lower, or 7.92%, at $3.986/MMBtu.
-------------------
Gas Futures Edge Lower After Of EIA Storage Data
HOUSTON -- Natural gas futures traded slightly lower Thursday as traders adjusted their positions ahead of a weekly update on natural gas storage.
Natural gas for April delivery on the New York Mercantile Exchange are down 3.8 cents, or 0.88%, at $4.291 a million British thermal units. The contract opened floor trade 4.4 cents lower at $4.285/MMBtu.
Cameron Horwitz, an analyst with SunTrust Robinson Humphrey in Houston, said that traders were squaring their books ahead of a weekly report on natural gas storage.
"People are positioning themselves ahead of the number coming out," Horwitz said. Horwitz is expecting the report to show that natural gas storage declined by 7 billion cubic feet, but he said that a draw of 15 Bcf could spur a rally.
Market watchers are paying particular attention to the weekly report after last week's data showing a 30 Bcf draw from storage sent natural gas futures up more than 13% by the end of the day. The draw was slightly larger than some analysts and traders had expected.
Analysts and traders are eyeing the report for an indication that supplies of natural gas are beginning to lineup with demand. Natural gas prices have fallen about 69% since hitting a high last July and producers have idled rigs and trimmed production forecasts.
The U.S. recession has also taken a bite out of demand -- particularly among industrial users, which account for about one-third of U.S. consumption.
Analysts with Tudor Pickering Holt & Co. Securities Inc. wrote in a note to clients on Thursday that last week's number suggests that the supply and demand are beginning to balance out.
The analysts wrote that another bullish report will "get people off the fence and more enthusiastic."
The U.S. Energy Information Administration is expected to report that 11 billion cubic feet of gas were withdrawn from storage during the week ended March 20, according to the average prediction of 13 analysts and traders in a Dow Jones Newswires survey.
The survey's median was a draw of 10 billion cubic feet, with a high of a 22 Bcf withdrawal and a low analyst estimate that expects no change to storage levels. The average storage estimate falls short of last year's 43 Bcf pull from storage and the 49 Bcf five-year average withdrawal.
If the storage estimate is correct, U.S. natural gas stocks as of March 20 will total 1.640 trillion cubic feet, 19% above the five-year average and 28% above last year's level.
Meanwhile, the National Weather Service is predicting near-normal temperatures across the eastern half of the U.S. from March 31 to April 4 and below normal temperatures along the western portion of the country.
Colder-than-normal temperatures across key heating demand regions in the northeast and midwest can help boost demand for natural gas.
3/20 week Nat Gas storage EIA report
------------------------------------------------------
Nat Gas Plunges After 3 Bcf Build
[Dow Jones] Natural gas futures plunge Thursday after the EIA reported that natural gas storage grew by 3 Bcf for the week ended March 20. "There is still tons of gas out there and last week's draw was a fluke," says Kent Bayazitoglu, director of analytics for Houston-based Gelber & Associates. Nymex April gas futures trade 34.3 cents lower, or 7.92%, at $3.986/MMBtu.
-------------------
Gas Futures Edge Lower After Of EIA Storage Data
HOUSTON -- Natural gas futures traded slightly lower Thursday as traders adjusted their positions ahead of a weekly update on natural gas storage.
Natural gas for April delivery on the New York Mercantile Exchange are down 3.8 cents, or 0.88%, at $4.291 a million British thermal units. The contract opened floor trade 4.4 cents lower at $4.285/MMBtu.
Cameron Horwitz, an analyst with SunTrust Robinson Humphrey in Houston, said that traders were squaring their books ahead of a weekly report on natural gas storage.
"People are positioning themselves ahead of the number coming out," Horwitz said. Horwitz is expecting the report to show that natural gas storage declined by 7 billion cubic feet, but he said that a draw of 15 Bcf could spur a rally.
Market watchers are paying particular attention to the weekly report after last week's data showing a 30 Bcf draw from storage sent natural gas futures up more than 13% by the end of the day. The draw was slightly larger than some analysts and traders had expected.
Analysts and traders are eyeing the report for an indication that supplies of natural gas are beginning to lineup with demand. Natural gas prices have fallen about 69% since hitting a high last July and producers have idled rigs and trimmed production forecasts.
The U.S. recession has also taken a bite out of demand -- particularly among industrial users, which account for about one-third of U.S. consumption.
Analysts with Tudor Pickering Holt & Co. Securities Inc. wrote in a note to clients on Thursday that last week's number suggests that the supply and demand are beginning to balance out.
The analysts wrote that another bullish report will "get people off the fence and more enthusiastic."
The U.S. Energy Information Administration is expected to report that 11 billion cubic feet of gas were withdrawn from storage during the week ended March 20, according to the average prediction of 13 analysts and traders in a Dow Jones Newswires survey.
The survey's median was a draw of 10 billion cubic feet, with a high of a 22 Bcf withdrawal and a low analyst estimate that expects no change to storage levels. The average storage estimate falls short of last year's 43 Bcf pull from storage and the 49 Bcf five-year average withdrawal.
If the storage estimate is correct, U.S. natural gas stocks as of March 20 will total 1.640 trillion cubic feet, 19% above the five-year average and 28% above last year's level.
Meanwhile, the National Weather Service is predicting near-normal temperatures across the eastern half of the U.S. from March 31 to April 4 and below normal temperatures along the western portion of the country.
Colder-than-normal temperatures across key heating demand regions in the northeast and midwest can help boost demand for natural gas.
waiting for a spike past 54.50 to get a short in.
Im looking at the bid/offer quantuty at teh same time as tick-tick chart,
however they dont seem very correlated..
:eek:
Since there were 9/11/5/1/20/6 bid flashing, while ask was just 1/2/4/2/3/5/1... ect
yet oil was still moving down a few ticks as those bids vs those ask were going in.
am i missing something???
however they dont seem very correlated..
:eek: Since there were 9/11/5/1/20/6 bid flashing, while ask was just 1/2/4/2/3/5/1... ect
yet oil was still moving down a few ticks as those bids vs those ask were going in.
am i missing something???
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